Small- and mid-caps revive Aegon UK Equity fund

Stephen Adams has turned around patchy performance by reducing large-cap exposure and identifying businesses benefiting from a period of change

When Stephen Adams took over Aegon UK Equity three years ago, the fund was struggling after a period of high manager turnover. Three managers had been and gone in recent times, Matt Harris, Steven Laidlaw and Mark Peden, and the fund was sitting in the bottom quartile of the UK All Companies sector over one, three and five years. Three years on and the fund now sits in the top quartile with a return of 76.9% bid to bid up until 14 May, compared to the sector average of 68.8%, according to Morningstar. The fund is ranked 57th out of 253 in the sector. Adams chose to enter the investment ...